Search found 104 matches

by simas
Sat Dec 30, 2017 2:10 pm
Forum: Investing - Help with Personal Investments
Topic: solo 401k - setting it up so that Roth conversion is a possibility
Replies: 41
Views: 2135

Re: solo 401k - setting it up so that Roth conversion is a possibility

one quote that speaks to me as you are in the last day (or already passed) ability to actually set this up in 2017
"Act thoughtfully, act intelligently, and act boldly, but always remember to act!"

all research in the world without action means nothing
by simas
Sat Dec 30, 2017 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: solo 401k - setting it up so that Roth conversion is a possibility
Replies: 41
Views: 2135

Re: solo 401k - setting it up so that Roth conversion is a possibility

"Simas, one thing i wondered about about is that they plan to get a second EIN for me to use for the trust associated with the plan. So I wondered if it would be a big hassle to switch back to a brokerage with the solo401k (e.g. TDA) where they do not use this extra EIN and whether I'd need to go to...
by simas
Fri Dec 22, 2017 7:12 pm
Forum: Investing - Help with Personal Investments
Topic: solo 401k - setting it up so that Roth conversion is a possibility
Replies: 41
Views: 2135

Re: solo 401k - setting it up so that Roth conversion is a possibility

plan - discountsolo401k.com
accounts set up by the plan trust - Fidelity
by simas
Fri Dec 22, 2017 4:13 pm
Forum: Investing - Help with Personal Investments
Topic: solo 401k - setting it up so that Roth conversion is a possibility
Replies: 41
Views: 2135

Re: solo 401k - setting it up so that Roth conversion is a possibility

exactly. 1. I do not understand why otherwise pretty advanced organizations like Fidelity, Schwab, etc voluntarily surrender this market to smaller boutique firms . All they have to do is change the provisions of their plans to enable these features to instantly have significant advance 2. solo401k ...
by simas
Fri Dec 22, 2017 9:39 am
Forum: Investing - Help with Personal Investments
Topic: solo 401k - setting it up so that Roth conversion is a possibility
Replies: 41
Views: 2135

Re: solo 401k - setting it up so that Roth conversion is a possibility

"to be different viewpoints on how one can get up to $54 k in contributions" no. you are confusing multiple items here. 1. standard formula you reference 0.2x (net income - 1/2 SEtax) for employer) is related to what your business can put in as matching/profit sharing contribution and take a deducti...
by simas
Thu Dec 21, 2017 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Another 401K vs Roth with lower marginal tax on the horizon
Replies: 8
Views: 500

Re: Another 401K vs Roth with lower marginal tax on the horizon

[/quote] thanks. I will keep my 401k/457 3% rate is non tax. My thought is, we are adding almost 60K/yr into equities and would not hurt just have some cash on the side. The "cash" is more like a fixed income portfolio. [/quote] one more suggestion for portfolio review if you want holistic approach ...
by simas
Thu Dec 21, 2017 10:12 am
Forum: Investing - Help with Personal Investments
Topic: Motive for 401(k) advisor to change funds? Something fishy?
Replies: 44
Views: 2574

Re: Motive for 401(k) advisor to change funds? Something fishy?

"Alarm bells are ringing. All this and nepotism too?"

Family owned/run company...
by simas
Thu Dec 21, 2017 10:07 am
Forum: Personal Finance (Not Investing)
Topic: A meal with friends yields a financial revelation
Replies: 95
Views: 11757

Re: A meal with friends yields a financial revelation

" I made a number of mistakes over weighting lower price vs better quality."

I think this is what wisdom is, all of us find their own balance and learn it over time.. I did the same going for lower price just to end up with questionable value (aka junk) and then doing it again right.
by simas
Thu Dec 21, 2017 10:03 am
Forum: Investing - Help with Personal Investments
Topic: Another 401K vs Roth with lower marginal tax on the horizon
Replies: 8
Views: 500

Re: Another 401K vs Roth with lower marginal tax on the horizon

or you can consider using muni bond funds which are exempt from income taxes (not sure about AMT specifics). 3% rate * 0.6 after tax (100% -40% taxes) is 1.8%. Pretty good for cash , as for the rest - you may want to look at portfolio as a whole to understand why you keep that much cash... and yes, ...
by simas
Thu Dec 21, 2017 9:22 am
Forum: Investing - Help with Personal Investments
Topic: solo 401k - setting it up so that Roth conversion is a possibility
Replies: 41
Views: 2135

Re: solo 401k - setting it up so that Roth conversion is a possibility

"About discountsolo401k.com - I also did not find a mention of after-tax on their website either, but am assuming they do it all. As mentioned, this (after take solo401k) seems a good project for 2018 for me and maybe for a new thread. I found some previous threads on it, but was still confused afte...
by simas
Thu Dec 21, 2017 9:14 am
Forum: Investing - Help with Personal Investments
Topic: solo 401k - setting it up so that Roth conversion is a possibility
Replies: 41
Views: 2135

Re: solo 401k - setting it up so that Roth conversion is a possibility

"On the after tax non-roth, do I understand that this does not have to follow the same formula for maximum contributions as the others? " I think you are making this so much more complicated vs what it should be 1. There are 'Elective Deferral' employee contributions (to the tune of 18k normally wit...
by simas
Wed Dec 20, 2017 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: solo 401k - setting it up so that Roth conversion is a possibility
Replies: 41
Views: 2135

Re: solo 401k - setting it up so that Roth conversion is a possibility

Agree, this is very hard to read. "One of my main interests with regard to re-setting up my i401k tax-deferred part is being able to eventually do roth conversion of the deferred part of the solo 401k" Is this is your goal, have you looked at entire industry of boutique providers that write MUCH bet...
by simas
Wed Dec 20, 2017 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Job Opportunity - Public vs Private
Replies: 21
Views: 1728

Re: Job Opportunity - Public vs Private

"That said, here lies the rub of it all and others above have alluded to, the stability aspect of the public sector position versus this private sector one. What happens if or when their projects slow down or are completed? I could always go to another company or back to the public sector, but those...
by simas
Wed Dec 20, 2017 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-planning - What to pay in '17 before it's too late?
Replies: 33
Views: 1780

Re: Tax-planning - What to pay in '17 before it's too late?

"I'm thinking of making extra payments to my mortgage/property tax in anticipation of the tax overhaul." I do not know what is your tax filing strategy or approach is - favorite package, etc. for myself, I ended up buying H&R Block 2017 already and entering numbers I have, then playing with scenario...
by simas
Wed Dec 20, 2017 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-planning - What to pay in '17 before it's too late?
Replies: 33
Views: 1780

Re: Tax-planning - What to pay in '17 before it's too late?

Sorry guys, what does future 2018 legislation have to do with current topic of OP question? I understand everyone wants to spout their political position (whichever it is) but BH is not a good place for it, IMHO. There are plenty of forums to make noise about "freeloaders , who pay nothing in income...
by simas
Tue Dec 19, 2017 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Job Opportunity - Public vs Private
Replies: 21
Views: 1728

Re: Job Opportunity - Public vs Private

" opportunity that has presented itself versus my current situation." do you have an offer? if not, you do not have an opportunity yet if yes, what does the offer say? a lot of items below that you write below ('industry', 'overall job market') are irrelevant, what matters is what is in your offer (...
by simas
Mon Dec 18, 2017 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: please help figuring out after tax contribution
Replies: 6
Views: 475

Re: please help figuring out after tax contribution

Thank you!

I believe this https://www.irs.gov/retirement-plans/40 ... ction-415c is what you are referring to.


I appreciate everyone's help
by simas
Mon Dec 18, 2017 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: please help figuring out after tax contribution
Replies: 6
Views: 475

Re: please help figuring out after tax contribution

her 403b employer contributions at separate unrelated part time employment are zero her 403 employee contributions at same job are 16k in our consulting business (qualified joint partnership) , completely different industry, field, etc "funky calculation based on 20% after half SE tax is deducted. J...
by simas
Mon Dec 18, 2017 9:40 am
Forum: Personal Finance (Not Investing)
Topic: please help figuring out after tax contribution
Replies: 6
Views: 475

please help figuring out after tax contribution

Would resident experts be able to comment on below? I am sole proprietor in qualified joint partnership (50/50) My 401k contribution as employee is 18k (pre-tax, but I do not think that matters for amounts) My 25% contribution as employer is 11k (pre-tax) My voluntary after tax contribution is 54 -(...
by simas
Mon Dec 11, 2017 8:31 am
Forum: Investing - Help with Personal Investments
Topic: 100k small business income. How much can I put in solo 401k?
Replies: 3
Views: 572

Re: 100k small business income. How much can I put in solo 401k?

It depends on two things - what are your business expenses out of those 100K - how much you want to shelter in tax deferred or tax free growth generally, with standard packaged plan - you get 18K as employee - at that income level you get ~18k in profit sharing contributions as employer The numbers ...
by simas
Fri Dec 08, 2017 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: 33 years old, 13 years IT experience, currently make 63k a year. I need advice to start making more money
Replies: 76
Views: 6732

Re: 33 years old, 13 years IT experience, currently make 63k a year. I need advice to start making more money

You are getting good advice here. Regarding support, no way around it regardless of the specific IT specialty to taken (I do data/databases and there is plenty of support) Keep improving yourself (your marketability) , certifications, training, networking. Keep looking for opportunities as that is h...
by simas
Mon Dec 04, 2017 5:39 pm
Forum: Investing - Help with Personal Investments
Topic: Who keeps more money out of 100k? Self-employed vs Employed?
Replies: 39
Views: 2923

Re: Who keeps more money out of 100k? Self-employed vs Employed?

"The issue I had, as 1099 long term, doing finance/accounting/misc consulting work, is the employer tends to get hung up on the high hourly rate number." May be a market that you are dealing with? given my experience is in different field (management/technology consulting) and hourly rate there is l...
by simas
Mon Dec 04, 2017 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: The 4% rule, Firecalc and Human Nature
Replies: 86
Views: 6224

Re: The 4% rule, Firecalc and Human Nature

". My goal isn't to retire, but when I get to that point (which may be now or soon) to continue to work, but do something I like and make less money." not even that - the goal for a lot on MMM (where I frequent as well) is FIRE, which is freedom. you want to work , awesome. you want to not work, awe...
by simas
Mon Dec 04, 2017 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: The 4% rule, Firecalc and Human Nature
Replies: 86
Views: 6224

Re: The 4% rule, Firecalc and Human Nature

"You keep writing that. Not sure why. " Yep, the sky is falling, it truly is! Look, this time is different never worked, and is a common excuse to hide fear... sad to see so many people paralyzed by fear of living.. " It's valid to consider likely life expectancy, but actuarial data includes everyon...
by simas
Mon Dec 04, 2017 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: Who keeps more money out of 100k? Self-employed vs Employed?
Replies: 39
Views: 2923

Re: Who keeps more money out of 100k? Self-employed vs Employed?

" I want to know WHEN/HOW (if at all possible) a self-employed person making 100k would keep more of their money than an employee 100k salary + benefits." your question is meaningless on many levels. - as self employed you set your rates and they are multiples of the equivalent W-2 rates. i.e. in Ch...
by simas
Sun Dec 03, 2017 5:11 pm
Forum: Investing - Help with Personal Investments
Topic: The 4% rule, Firecalc and Human Nature
Replies: 86
Views: 6224

Re: The 4% rule, Firecalc and Human Nature

as another (third?) party - you _are_ talking past each other.. - some financial products may have different properties than others ("more safe") - zero financial products are completely safe for reasons already outlined above. . how I know - ask myself, my family, or hundred million of others how s...
by simas
Sun Dec 03, 2017 1:10 pm
Forum: Investing - Help with Personal Investments
Topic: The 4% rule, Firecalc and Human Nature
Replies: 86
Views: 6224

Re: The 4% rule, Firecalc and Human Nature

the 'just in case' thing and to worry in general is simply being human.. would you go to work and fill up retirement accounts for another year if you had 12 months to live? would you work another year just in case if you only had 2 years left to live? what is your tolerance level, surely you are not...
by simas
Sun Dec 03, 2017 10:17 am
Forum: Investing - Help with Personal Investments
Topic: The 4% rule, Firecalc and Human Nature
Replies: 86
Views: 6224

Re: The 4% rule, Firecalc and Human Nature

" but the current combination of extremely high valuations for both stocks and bonds is unprecedented (or the "n" is extremely small)" the 'this time it is different' argument again? Same arguments have been used for decades now in attempt to deal with inner fear... "You are not missing anything. Wh...
by simas
Sat Dec 02, 2017 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Plan for the Next Eight Years - Any Concern or Red Flag?
Replies: 21
Views: 2881

Re: Plan for the Next Eight Years - Any Concern or Red Flag?

So overall, your plan seem to be ok with few comments 1 . do not over estimate the tax brackers and their impact (all that concern about 15% and 25%, etc). I am sure you know how this works and 25% is on the money above the limit, not everything which amounts to at most 10% difference on additional ...
by simas
Thu Nov 30, 2017 9:18 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio review requested and some tactical steps
Replies: 4
Views: 596

Re: Portfolio review requested and some tactical steps

Thank you LadyGeek, I realized I put it in the wrong forum but was not sure how to move it. My allocation was based on the book by Rick Ferri and is a variant of 4 core portfolio. for Vanguard Limited Term Tax Exempt , I was thinking of this as our emergency fund (year plus of expenses). limited vol...
by simas
Sun Nov 26, 2017 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Let Go by MegaCorp - Lots of options
Replies: 40
Views: 3635

Re: Let Go by MegaCorp - Lots of options

I faced similar choice to yours about 2 years ago when my former manager left and new team was brought in. I received an offer to 'park me' (keep the same base pay, change from management title to a non-management role and stay there doing nothing while they figure out what they want to do) which I ...
by simas
Sun Nov 26, 2017 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Let Go by MegaCorp - Lots of options
Replies: 40
Views: 3635

Re: Let Go by MegaCorp - Lots of options

"The severance package pays out bi-weekly so I would not be able to collect unemployment until my severance is up" Are you sure about this? Are you in notification period (or pre-notification) ? What is the date of the actual layoff? If you got laid off, you get to collect unemployment, regardless o...
by simas
Sun Nov 26, 2017 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio review requested and some tactical steps
Replies: 4
Views: 596

Portfolio review requested and some tactical steps

friends, Could you please take a look at below and give me your recommendations? How can I simplify this? I also have 200k to invest from the sale of old home which I will have to allocate.. us - MFJ , 39/40 , two kids (5,2) desired allocation - stock/bond 80/20 we both technically work part time, c...
by simas
Thu Nov 23, 2017 4:53 pm
Forum: Investing - Theory, News & General
Topic: VG wants everyone to transfer to a brokerage account?
Replies: 110
Views: 12266

Re: VG wants everyone to transfer to a brokerage account?

"I keep seeing these threads but have never seen anyone else reporting being able to get rid of the brokerage account and retain the mutual fund accounts. Am I unique in this respect?" No. if you happen to work in financial services (which is a huge sector of economy) that is pretty much the only wa...
by simas
Thu Nov 23, 2017 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: Asset allocation software/site recommendations?
Replies: 1
Views: 346

Asset allocation software/site recommendations?

I typically use Personal Capital for account monitoring as it is free and very convenient. However personal capital does not have an option for me to include one of the bank account cash as part of portfolio review for things like asset allocation. Rather than figuring it out manually, what do other...
by simas
Wed Nov 22, 2017 8:07 am
Forum: Investing - Help with Personal Investments
Topic: Planning for the final months of work
Replies: 50
Views: 3860

Re: Planning for the final months of work

Hey, I am the first generation immigration (off the boat myself) so I know the 'what is the worst happens' feeling very well.. Having said that, stop being in denial of the financial rape you are getting from EJ - you are paying AUM fee AND mutual fund fees (no way around that) AND likely sale loads...
by simas
Fri Nov 17, 2017 11:37 am
Forum: Personal Finance (Not Investing)
Topic: RE sale: long close vs. bird-in-hand
Replies: 28
Views: 2110

Re: RE sale: long close vs. bird-in-hand

+1 get a realtor. I do not know how many houses you sold but you seriously underestimate complexity and milestones towards the sale. You also not clear in your messaging and position - are you selling or not? if you are not selling, and want to be a landlord - be a landlord and dont waste your time ...
by simas
Fri Nov 17, 2017 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Value of 401k Employer Match vs. Salary Equivalent
Replies: 34
Views: 3493

Re: Value of 401k Employer Match vs. Salary Equivalent

the main issue with these threads from any hiring manager perspective is that you are just wasting your time "value this" , "value that" you know what you are willing to work for (a penny less and you will not accept that job) you know what you want (here is what I would be satisfied) leave the "why...
by simas
Fri Nov 17, 2017 11:06 am
Forum: Personal Consumer Issues
Topic: United change fees
Replies: 28
Views: 2020

Re: United change fees

This is expected, from all carriers. the change fees also vary depending on how far away are from from flight event.
by simas
Fri Nov 17, 2017 10:56 am
Forum: Personal Consumer Issues
Topic: Upgrading a flight - what are your rules?
Replies: 40
Views: 3876

Re: Upgrading a flight - what are your rules?

4 + hours -> business class, especially if these are not US based airlines (for US airlines business class product is rather bad)
by simas
Fri Nov 17, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Schwab/Fidelity vs BoA Gold: Checking
Replies: 41
Views: 3406

Re: Schwab/Fidelity vs BoA Gold: Checking

I think you are solving this backwards, rather than going from various offering I would have started with needs and then match what exists in the market to my needs. if I never travel to Antarctica then the cost of ATM withdrawal there is of little concern to me. What are your needs? i.e. mine are -...
by simas
Tue Nov 14, 2017 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Schwab/Fidelity vs BoA Gold: Checking
Replies: 41
Views: 3406

Re: Schwab/Fidelity vs BoA Gold: Checking

[/quote]

What were the ATM surcharge fees in Soviet Union, India?
[/quote]

zero.
by simas
Sun Nov 12, 2017 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Schwab/Fidelity vs BoA Gold: Checking
Replies: 41
Views: 3406

Re: Schwab/Fidelity vs BoA Gold: Checking

" Are these real/substantial benefits (worth the $20K) or just gimmicks? " - do you use or do you see yourself using any of these services? if you do not they have zero value regardless of the provider.. - the cost is $20k, it is the interest you lose on that money (and the spread you allow them to ...
by simas
Sat Oct 28, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Request for Promotion letter to Senior Management
Replies: 155
Views: 13434

Re: Request for Promotion letter to Senior Management

Few more things people forget in terms of how system really works normal operating procedure - every team, group, division, whatever has a defined org structure that describes how many resources there are and what level (8 people, of which 1 is senior , 2 junior rank, 5 are neither) - no amount of g...
by simas
Fri Oct 27, 2017 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Request for Promotion letter to Senior Management
Replies: 155
Views: 13434

Re: Request for Promotion letter to Senior Management

Do not write the letter, especially request for promotion letter - it is stupid, and makes you look very weak. As others said in megacorps, as managers we get these letters all the time and at best you would be unofficial smiling stock when your superiors talk if you believe you have the standing an...
by simas
Fri Oct 27, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: N.Carolina 529 no longer state tax decuctible
Replies: 31
Views: 3966

Re: N.Carolina 529 no longer state tax decuctible

"I think that Michigan also recaptures its state tax deduction when rolling over."

Illinois as well.
by simas
Wed Oct 25, 2017 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2912

Re: Whole Life Policy Analysis

"I challenge you to do the calculation yourself. You will see this has been accounted for." I already done. please re-read it Yield = CURRENT DIVIDEND: $367.82/CASH VALUE: $14,577.96 =2.52% 30 year term for 42 y.o. male is $280 as sample quote Cost of your yield = $708 premium -$280 cost of term ins...
by simas
Wed Oct 25, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2912

Re: Whole Life Policy Analysis

nd since this is both an insurance policy and an investment policy you must determine the financial impact of doing each of those activities on the return calculation. As well the return needs to incorporate what happens at death. Wrong. Right. all of you forgetting the cost and that is why all of t...
by simas
Mon Oct 23, 2017 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2912

Re: Whole Life Policy Analysis

if you are at all insurable AND if you want insurance, get rid of this WL trash as soon as possible. Saving account with 2.52% yield ( 367.82/ 14,577.96) for which you pay at least between 3-4.8 negative yield for privilege of having such (708 premium paid -whatever your term insurance would cost ) ...